US FTC sues to block Cencora’s $3.5 billion sale of veterinary unit to Covetrus
In short
The Federal Trade Commission initiated formal legal proceedings to prevent Cencora from divesting its veterinary business. The proposed acquisition by Covetrus carries an estimated valuation of $3.5 billion. Regulators are actively intervening in the corporate transaction through the federal court system.
Key points
- Federal antitrust regulators are actively working to stop the multi-billion-dollar corpor…: Federal antitrust regulators are actively working to stop the multi-billion-dollar corporate deal.
- The transaction cannot proceed as originally planned due to the government lawsuit.: The transaction cannot proceed as originally planned due to the government lawsuit.
- Covetrus faces significant legal opposition from the federal government regarding the pla…: Covetrus faces significant legal opposition from the federal government regarding the planned purchase.